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Dec 26, 2012
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. >> reporter: chinese firms flush with cash have invested $16.4 billion in the u.s. in the past decade. $1.3billion in california companies. $560million in just the past year. the chinese are boosting the golden states housing recovery. they bought one out it have every ten homes sold in the past year. >> compare to high end housing like in beijing, this is not that expensive. >> reporter: a student at the university of southern california. his parents bought him this yearly $1 million condo. they thought renting a dorm room was a waste of money. >> my parents decide to buy me a house as a investment outside china. >> reporter: jim jacobson has sold 22% of the residents to affluent chinese. >> they don't have a place to put their money. they look at their own economy as a place where it's not very stable. the housing market is not very stable either. >> reporter: so this housing complex is being built for chinese buyers. separate wok cooking rooms. no unlucky fours in the addresses. back in napa scott says chinese wealth is an opportunity, not a threat for american b
. >> reporter: chinese firms flush with cash have invested $16.4 billion in the u.s. in the past decade. $1.3billion in california companies. $560million in just the past year. the chinese are boosting the golden states housing recovery. they bought one out it have every ten homes sold in the past year. >> compare to high end housing like in beijing, this is not that expensive. >> reporter: a student at the university of southern california. his parents bought him this yearly...
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Dec 26, 2012
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wiesel t axelrod: there continue to be encouraging signs that the u.s. eausing market is recovering. government figures for november show the construction on new homes was up 21.6% from a year ago. in california, you may be surprised at who is buying. here's ben tracy. >> reporter: this is the busy time of year for you guys. >> absolutely. this is when all the grapes come ns. >> reporter: scott meadows runs salinas vineyards in california's napa valley. there's a good reason he put that american bald eagle on the , ttle. it seems kind of nationalistic. >> it does, doesn't it? that was a specific request from our owners in china. china overall is looking to bring parts of america to china. >> reporter: in 2010, this vineyard was up for sale. chinese investors bought it. now, 90% of the wine from here-- that's 9,000 cases-- is shipped to china. what does a chinese company want with a vineyard in napa valley? >> there's a big demand in china for luxury goods, for goods that are scarce, and for goods that are well made. rather than buying chinese-made produc
wiesel t axelrod: there continue to be encouraging signs that the u.s. eausing market is recovering. government figures for november show the construction on new homes was up 21.6% from a year ago. in california, you may be surprised at who is buying. here's ben tracy. >> reporter: this is the busy time of year for you guys. >> absolutely. this is when all the grapes come ns. >> reporter: scott meadows runs salinas vineyards in california's napa valley. there's a good reason...
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Dec 26, 2012
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where heed he and his wife, michelle, spent christmas visiting u.s. troops and their families in hawaii. to beat the january 1st deadline senate majority leader harry reid is said to be crafting his own fiscal package. it would extend the bush era tax cuts for households making less than $250,000, extend long-term unemployment, short-term spending cuts, and make a scheduled drop in medicare reimbursement to doctors. house speaker john boehner said they've had no communication with senator reid. >>> the exconwho ambushed and killed two volunteer firefighters in upstate new york may have murdered his sister. her body was found yesterday, and police say william spamglor had the same kind of military rifle used in the connecticut school massacre. he left behind a chilling note. >> reporter: the christmas eve fire in western new york burned seven homes to the ground, but police say william spangler wanted to do much worse. he planned to burn down the entire neighborhood and "do what i like doing best, killing people." the 62-year-old shot at firefighters f
where heed he and his wife, michelle, spent christmas visiting u.s. troops and their families in hawaii. to beat the january 1st deadline senate majority leader harry reid is said to be crafting his own fiscal package. it would extend the bush era tax cuts for households making less than $250,000, extend long-term unemployment, short-term spending cuts, and make a scheduled drop in medicare reimbursement to doctors. house speaker john boehner said they've had no communication with senator reid....
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Dec 26, 2012
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according to the latest u.s. census figures about 2 60,000 young adults with college degrees in california are working in food service and retail. >> couldn't get a job in the field that i wanted to so i figured i have to start at the bottom. >> without higher paying jobs, it's that much harder for graduates to pay back student loans weapon tuition rising across the nation. >>> the holiday season isn't what it used to be for american oh. a new poll suggests a lot of people are working between christmas and new year's. the survey conducted in the midwest shows about a third of workers will be on the job in the last week of 2012. >>> one of the positive signs for the american economy has been the housing market. in november, construction on new homes was up 22% from a year ago and in california, you may be surprised at who is buying. cbs news reporter ben tracy has more. >> this is the busy time of year. >> absolutely. this is when all the games come in. >> reporter: scott meadows runs salinas vineyards in californ
according to the latest u.s. census figures about 2 60,000 young adults with college degrees in california are working in food service and retail. >> couldn't get a job in the field that i wanted to so i figured i have to start at the bottom. >> without higher paying jobs, it's that much harder for graduates to pay back student loans weapon tuition rising across the nation. >>> the holiday season isn't what it used to be for american oh. a new poll suggests a lot of people...
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the measure is widely seen as retaliation for a new u.s. law that punishes russians accused of violating human rights. last week president vladimir putin expressed support for the ban, but was cagey when pressed if he would sign it into law. >> we see this as another situation where vulnerable children could be impacted by human rights issues between these two countries. >> reporter: laurie goldheim of the american academy of adoption attorneys says the law will affect families like the fongs, as well as thousands of russian children. >> every child deserves a permanent home. they didn't ask to be in this situation, and we are doing our best to find permanent homes for all of these children. >> reporter: unicef estimates there are more than 700,000 orphans and abandoned children in russia. during the last two decades, americans adopted more than 60,000 of those children. last week in moscow there were rare public protests against the law. still, a new poll shows 56% of russians support the ban. >> bring it over here so we can see it. >> rep
the measure is widely seen as retaliation for a new u.s. law that punishes russians accused of violating human rights. last week president vladimir putin expressed support for the ban, but was cagey when pressed if he would sign it into law. >> we see this as another situation where vulnerable children could be impacted by human rights issues between these two countries. >> reporter: laurie goldheim of the american academy of adoption attorneys says the law will affect families like...